“We are long-term patient investors. We strategically allocate capital to select high-quality businesses with sustainable growth, only when they trade at a significant discount to our estimate of intrinsic value.”
Aziz V. Hamzaogullari, CFA
Founder, Chief Investment Officer and Portfolio Manager
As of 6/30/2022
As of 6/30/2022
Supported by a seven-step research framework
We are an active manager with a long-term, private equity approach to investing. Through our proprietary bottom-up research framework, we look to invest in those few high-quality businesses with sustainable competitive advantages and profitable growth when they trade at a significant discount to our estimate of intrinsic value.
We believe a focus on the quality of a manager's investment philosophy, process, and decision-making is essential for assessing the probability of future success. Our alpha thesis encapsulates a deeply held system of persistent beliefs, a rigorous, repeatable investment process and substantive proof points.
Our Quality-Growth-Valuation investment process begins with the art of trying to identify high-quality companies—those with unique, difficult-to-replicate business models and sustainable competitive advantages.
Our proprietary seven-step research framework represents our long-standing insights about investing and is structured around three key criteria: Quality, Growth, and Valuation.
In our view, a long investment horizon affords us the opportunity to capture value from secular growth opportunities as well as capitalize on the stock market’s shortsightedness through a process called time arbitrage.
Because we approach investing as if we are buying into a private business, a long investment horizon is central to our philosophy.
Because we define risk as a permanent loss of capital, we take an absolute-return approach to investing and seek to actively manage our downside risk.
the cornerstone of our investment decision-making process
"High-quality businesses are rare. We believe less than one percent of all businesses are able to sustain their competitive advantages beyond a decade. We also believe less than one percent of businesses can generate durable and profitable long-term growth. Demanding these two characteristics means we must be very selective and patient investors."
Aziz V. Hamzaogullari
Through the disciplined and thorough implementation of bottom-up fundamental analysis, we seek to understand the drivers, opportunities and limits of each business. Click through below to explore our research framework, outlined step-by-step.
We seek to identify unique elements and defensibility of a company's business model and sources and sustainability of a company's competitive advantage.
We assess barriers to entry, industry rivalry, power of buyers vs. suppliers and substitution threats. We evaluate the entire value chain and profit pool to discern the structural winners and losers in the long term.
We are seeking self-sufficient business models, with strong and sustainable cash flow generation capability as well as a proven and forecasted ability to generate returns above the cost of capital.
Our goal is to partner with management teams oriented to creating shareholder value, who share our long-term perspective, who have demonstrated the ability to allocate capital effectively, and who manage the business with vision and integrity.
Our growth estimate is developed independent of company guidance or Street expectations. To assess the sustainability of the company’s growth rate, we evaluate the drivers of that growth. We focus on long-term secular and structural growth opportunities - dynamics that aren’t likely to change for five years or longer.
We believe that the present value of future cash flows is a superior measure of economic performance and is our core methodology for measuring a company's intrinsic value. We establish our best, base, bear and worst case valuation scenarios. These valuation ranges guide the timing of both our buy and sell decisions.
We perform this analysis to assess the valuation assumptions implied by the current stock price. It is important to differentiate fundamentals drivers of value from market sentiment. The objective is to understand where and how our perspective diverges from that of the market. We are looking for investment opportunities where our perspective and assumptions differ significantly from the consensus.
"We are long-term, patient investors. We strategically allocate capital only to those select high-quality businesses with sustainable growth which offer the most compelling reward-to-risk opportunities."
Aziz V. Hamzaogullari
*this does not include Long/Short Equity
The Large Cap Growth strategy seeks to produce long-term, excess returns vs. the Russell 1000® Growth Index on a risk-adjusted basis over a full market cycle (at least 5 years) through bottom-up stock selection.
The All Cap Growth strategy seeks to produce long-term, excess returns vs. the Russell 3000® Growth Index on a risk-adjusted basis over a full market cycle (at least 5 years) through bottom-up stock selection.
The Global Growth strategy seeks to produce long-term, excess returns vs. the MSCI All Country World Index on a risk-adjusted basis over a full market cycle (at least 5 years) through bottom-up stock selection.
The International Growth strategy seeks to produce long-term, excess returns vs. the MSCI All Country World ex-USA Index on a risk-adjusted basis over a full market cycle (at least 5 years) through bottom-up stock selection
TICKER: LSGRX
The Growth Fund seeks to produce long-term growth of capital.
TICKER: LSGGX
The Global Growth Fund seeks long-term growth of capital.
TICKER: LIGYX
The International Growth Fund seeks long-term growth of capital.
Before investing, consider the fund’s investment objectives, risks, charges, and expenses. Please visit www.loomissayles.com or call 800-225-5478 for a prospectus and a summary prospectus, if available, containing this and other information. Read it carefully.
Natixis Distributors L.P. (fund distributor, member FINRA|SIPC) and Loomis, Sayles & Company, L.P. are affiliated.
The Large Cap Growth Managed Account strategy seeks to produce long-term, excess returns vs. the Russell 1000® Growth Index on a risk-adjusted basis over a full market cycle (at least 5 years) through bottom-up stock selection.
The Global Growth Managed Account strategy seeks to produce long-term, excess returns vs. the MSCI All Country World Index on a risk-adjusted basis over a full market cycle (at least 5 years) through bottom-up stock selection.
The International Growth Managed Account strategy seeks to produce long-term, excess returns vs. the MSCI All Country World ex-USA Index on a risk-adjusted basis over a full market cycle (at least 5 years) through bottom-up stock selection.
Strategy launched 1/1/2020 and now available to eligible investors.
There is no guarantee that the investment objective will be realized or that the strategy will generate positive or excess return.
The qualities that make a business great are universal in nature. How does the Growth Equity Strategies team identify and capture value? Watch to learn more.
We believe a focus on the quality of a manager's investment philosophy, process, and decision-making is essential for assessing the probability of future success. Our alpha thesis encapsulates a deeply held system of persistent beliefs, a rigorous, repeatable investment process and substantive proof points.
Large Cap Growth
All Cap Growth
Global Growth
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Square Mile Research |
Investor's Business Daily |
Morningstar |
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Investor's Business Daily |
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Citywire |
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Barron's |
Financial Advisor |
Investor's Business Daily |
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Loomis Sayles Celebrates |
Loomis Sayles Celebrates Anniversaries of Growth Equity Strategies Team's Large Cap Growth and All Cap Growth Offerings |
Loomis Sayles Global Growth Strategy Reaches Five Year Anniversary |
Loomis Sayles and Natixis Investment Managers Launch the Loomis Sayles International Growth Fund (LIGYX), a New Strategy from the $71 Billion Loomis Sayles Growth Equity Strategies (GES) Team |
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Loomis Sayles Celebrates 10 Years of Aziz Hamzaogullari |
Loomis Sayles Global Growth Strategy Celebrates Key 3-Year Milestone, Fund Granted 5-Star Rating by Morningstar |
Media Advisory: |
Loomis Sayles Announces |
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Loomis Sayles Appoints Aziz Hamzaogullari Chief
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Loomis Sayles Large Cap |
Loomis Sayles Launches |
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"Teamwork and diversity of thought matter to us. A passion for investing, independent thinking, team-orientation, and intellectual honesty are cornerstones of our culture. We are investor-centric. Our approach and incentives are aligned with our investors’ interests." Aziz V. Hamzaogullari
Aziz Hamzaogullari is the founder and chief investment officer of the Growth Equity Strategies Team at Loomis, Sayles & Company. He is the portfolio manager of the Loomis Sayles Large Cap Growth, All Cap Growth, Global Growth and International Growth long-only strategies as well as the Long/Short Growth Equity strategy. Offerings include the Loomis Sayles Growth, Global Growth and International Growth mutual funds and products outside the US. Aziz is also an executive vice president and a member of the firm’s Board of Directors. He joined Loomis Sayles in 2010 from Evergreen Investments where he was a senior portfolio manager and managing director. Aziz joined Evergreen in 2001, was promoted to director of research in 2003 and portfolio manager in 2006. He was head of Evergreen’s Berkeley Street Growth Equity team and was the founder of the research and investment process. Prior to Evergreen, Aziz was a senior equity analyst and portfolio manager at Manning & Napier Advisors. He has 29 years of investment industry experience. Aziz earned a BS from Bilkent University, Turkey, and an MBA from George Washington University. He is also a member of CFA Society Boston.
Brian Coyle is a vice president of Loomis, Sayles & Company and a senior equity analyst for the Growth Equity Strategies Team. He is responsible for covering information technology companies, internet retail companies and education services in the consumer discretionary sector, asset management and specialty finance companies in the financials sector, and consulting and human resource services companies in the industrials sector. Brian joined Loomis Sayles in 2010 from Evergreen Investments where he was an equity research analyst for the Berkeley Street Growth Equity team supporting the large cap growth and all cap growth strategies since their inception. He has 23 years of investment industry experience. Brian earned a BS and an MBA from Babson College. He is also a member of CFA Society Boston.
Rayon Ward is a vice president of Loomis, Sayles & Company and a senior equity analyst for the Growth Equity Strategies Team covering consumer staples and consumer discretionary companies. He also covers hardware, semiconductor, and communication equipment companies in the information technology sector. Rayon joined Loomis Sayles in 2010 from Evergreen Investments where he was an equity research analyst for the Berkeley Street Growth Equity team supporting the large cap growth and all cap growth strategies since their inception. He has 20 years of investment industry experience. Rayon earned a BS in actuarial science and an MS in economics from the University of the West Indies, and an MS in finance from Bentley University. He is also a member of CFA Society Boston.
Igor Chan is a vice president of Loomis, Sayles & Company and an equity analyst for the Growth Equity Strategies Team covering energy, industrials and materials companies. Igor joined Loomis Sayles in 2010 from EMC where he was a business operations analyst. He has 13 years of investment industry experience. Igor earned a BS and an MS in finance from Bentley University. He is also a member of CFA Society Boston.
Lawrence Keegan is an equity analyst for the Growth Equity Strategies Team at Loomis, Sayles & Company covering consumer staples and consumer discretionary companies. Lawrence joined Loomis Sayles in 2012 as a fixed income operations analyst. He was promoted to equity research associate upon joining the Growth Equity Strategies Team in 2013. In 2016, Lawrence was promoted to equity analyst. He has 12 years of investment industry experience. Lawrence earned a BA and an MBA with a concentration in finance from Suffolk University. He is also a member of CFA Society Boston.
Ryan Hill is an equity analyst for the Growth Equity Strategies Team at Loomis, Sayles & Company covering healthcare companies. He joined Loomis Sayles in 2014 after completing the MBA program at Duke University, during which time he interned for William Blair & Company in Chicago as an equity research analyst. Previously, Ryan was a mechanical engineer at Waters Corporation for three years where he was a named inventor on four patents and a design engineer/technologist at GE Aviation for two years. He earned a BS and an MS in mechanical engineering from Boston University. Ryan is also a member of CFA Society Boston.
Olivier Diolosa is a vice president of Loomis, Sayles & Company and an equity analyst for the Growth Equity Strategies Team. He joined Loomis Sayles in 2006 as senior operations analyst and was promoted to portfolio analyst, senior investment analyst and then global credit sector analyst for the global fixed income team. In 2018, Olivier joined the Growth Equity Strategies Team. He has 16 years of investment industry experience. Olivier earned a BA from Aix-Marseille University in France and an MBA with a concentration in finance from Suffolk University. He is also a member of CFA Society Boston.
Hollie Briggs is the director of product management for the Growth Equity Strategies Team at Loomis, Sayles & Company. She supports the Large Cap Growth, All Cap Growth, Global Growth and International Growth long-only strategies as well as the Long/Short Growth Equity strategy. Hollie joined Loomis Sayles in 2012 from Evergreen Investments where she was senior vice president and lead portfolio specialist for the Berkeley Street Growth Equity team supporting the large cap growth and all cap growth strategies. Prior to Evergreen, Hollie was a senior vice president and product specialist at Pyramis Global Advisors responsible for equity products in the 401(k) channel. Hollie has also held leadership roles in business development and marketing at John Hancock and Prudential Financial. She began her investment industry career as vice president and controller for the broker-dealer subsidiary at Wells Fargo. She has 29 years of investment industry experience. Hollie earned a BA from the University of California, Santa Cruz and an MA from Middlebury College. She is also a member of CFA Society Boston and CAIA Boston.
Adam Mushaweh is a vice president of Loomis, Sayles & Company and investment director for the Growth Equity Strategies Team where he supports the Large Cap Growth, All Cap Growth, Global Growth and International Growth long-only strategies as well as the Long/Short Growth Equity strategy. He joined Loomis Sayles in 2012 as a strategy analyst for the firm’s risk oversight group. In 2013, Adam joined the Growth Equity Strategies Team as associate investment director and was later promoted to investment director in 2017. Previously, Adam conducted manager due diligence as an analyst at Old Mutual Asset Management. He began his career as a risk management consultant at KPMG Advisory. Adam has 14 years of investment industry experience. He earned a BS and an MS in finance from Bentley University. Adam is also a member of CFA Society Boston and CAIA Boston.
John O’Shea is a vice president of Loomis, Sayles & Company and investment director for the Growth Equity Strategies Team where he supports the Large Cap Growth, All Cap Growth, Global Growth and International Growth long-only strategies as well as the Long/Short Growth Equity strategy. John joined Loomis Sayles in 2016 from JPMorgan where he spent 12 years, most recently as an executive director on the manager selection team. Previously, he was a vice president in private equity for Rosemont Partners. He has 25 years of investment industry experience. John earned a BA from Dartmouth College and an MBA from New York University Stern School of Business. He is also a member of CFA Society Boston.
Nick Gagnon is the director of trading for the Growth Equity Strategies Team at Loomis, Sayles & Company. He manages trading for the Large Cap Growth, All Cap Growth, Global Growth and International Growth long-only strategies as well as the Long/Short Growth Equity strategy. He joined Loomis Sayles in 2020 and has 18 years of investment industry experience. Previously, Nick was the head of trading at PanAgora Asset Management, where he implemented the firm’s top-down and bottom-up global equity strategies, while building a scalable buy-side trading desk with an emphasis on optimization and systematic execution. Prior to becoming head of trading at PanAgora, he was an analyst and trader covering equity, FX and derivatives. Nick earned a BA from Providence College and an MS in investment management from Boston University.
Dan Maturi is a senior trader for the Growth Equity Strategies Team at Loomis, Sayles & Company. He is responsible for global trade execution, system development and trading infrastructure for the Large Cap Growth, All Cap Growth, Global Growth and International Growth long-only strategies as well as the Long/Short Growth Equity strategy. He joined Loomis Sayles in 2020 and has 14 years of investment industry experience. Previously, Dan was a trader at PanAgora Asset Management, where he was responsible for global portfolio trade execution across all products and asset types. Prior to this, he was a vice president and trader responsible for Americas and Europe transition portfolio trade execution at State Street Global Markets, where he also contributed to the development of the global markets currency management trading platform. Dan earned a BS in electrical engineering from Trinity College and an MS in actuarial science from Boston University.
Julien Raynal is the chief operating officer of the Growth Equity Strategies Team at Loomis, Sayles & Company. He manages technology and operations for the Large Cap Growth, All Cap Growth, Global Growth and International Growth long-only strategies as well as the Long/Short Growth Equity strategy. He joined Loomis Sayles in 2008 as a senior quantitative developer and most recently served as the head of global and emerging markets technology. In 2019, Julien joined the Growth Equity Strategies Team. He has 19 years of investment industry experience. Previously, Julien was a senior systems analyst at Optima Technologies, Inc., where he was responsible for the design and implementation of portfolio management software platforms. Prior to this, he worked at Morgan Stanley in the global wealth management group. Julien earned a BA from the University of South Alabama where he was a nationally ranked NCAA Division I tennis player, captaining his team as well as competing in the NCAA team, singles and doubles championships.
Ralph Vitti is a senior business analyst for the Growth Equity Strategies Team at Loomis, Sayles & Company where he supports the Large Cap Growth, All Cap Growth, Global Growth and International Growth long-only strategies as well as the Long/Short Growth Equity strategy. He joined Loomis Sayles in 2017 and has 10 years of investment industry experience. Previously, Ralph was an intern in equity research at Stephens, Inc., where he analyzed small cap healthcare companies for industry initiation reports. Prior to this, he was at FactSet Research Systems, first as a senior consultant supporting buy-side clients with broad platform needs, and later specializing in portfolio analytics. Ralph earned a BA from Bates College and an MBA from Vanderbilt University.
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